Stocks to watch:RIL,HDFC Bank,ICICI Bank, EID Parry Economic Times
Reliance Industries posted a 30 percent rise in quarterly profit but lagged estimates as lower-than-expected refining margins offset gains from higher gas output off India's east coast. RIL’s net profit rose to Rs 4,710 crore in the fourth quarter ended March 31, 2010, as compared to Rs 3,627 crore in the corresponding quarter in the previous fiscal.HDFC Bank has reported a net profit of Rs 836.6 crore for the quarter ended March ’10—an increase of 32.6% over the net profit of Rs 630.8 crore in the corresponding quarter last year. Profits were boosted by a 29% drop in interest expenses, which improved net interest income by 27%.
ICICI Bank reported a consolidated profit after tax of Rs 4,670-crore in FY 10, up 31% from Rs 3577-crore in the year-ago period. Its net non-performing assets ratio decreased to 1.87% in FY 10 from 1.96% in FY 09 and 2.19% at December 31, 2009, the bank said in a statement issued here.
Sugar producer EID Parry has agreed to acquire
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Hindu Business LinePSU general insurers improve market shareHindu Business LineThe fourth player — National Insurance — reported a negative growth. Private sector players such as ICICI Lombard, Bajaj Allianz, IFFCO Tokio and Tata AIG and more »